Not all businesses have a big budget dedicated to their marketing efforts. Yet, you must allocate a sufficient budget to meet your marketing goals [see below for some thoughts about how much you should allocate to marketing]. The big question is how to get the biggest bang for your buck when it comes to developing a detailed marketing budget. Today we’ll discuss 5 affordable marketing methods that produce high returns on your investment.
Below, you have some idea of how big a percentage of your revenue you should allocate to marketing depending on your industry. The highest percentage of revenue dedicated to marketing occurs among consumer packaged goods companies, while the lowest occurs in the energy industry (likely a function of the monopoly status of most energy companies around the country that eliminated customer choice).
Although somewhat similar, further guidance on how much you should allocate to your marketing budget … Read more